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Firefly Aerospace announced it has launched the roadshow for its initial public offering of 16.2 million shares of common stock. The space and defense technology company also intends to grant underwriters a 30-day option to purchase an additional 2.43 million shares at the IPO price, less underwriting discounts and commissions.
The Cedar Park, Texas-based company expects the initial public offering price to be between $35.00 and $39.00 per share. Firefly has applied to list its common stock on the Nasdaq Global Market under the ticker symbol "FLY."
The company plans to use net proceeds from the offering to repay outstanding borrowings under its credit agreement, pay accrued and unpaid dividends on certain series of preferred stock, and for general corporate purposes.
Goldman Sachs & Co (NYSE:GS). LLC, J.P. Morgan, Jefferies, and Wells Fargo (NYSE:WFC) Securities are serving as lead bookrunning managers for the proposed offering. Morgan Stanley (NYSE:MS), Deutsche Bank (ETR:DBKGn) Securities, and Cantor are acting as joint bookrunners, while Roth Capital Partners (WA:CPAP) and Academy Securities will serve as co-managers.
A registration statement relating to the securities has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. The company established in 2017 operates engineering, manufacturing, and test facilities in central Texas.
Firefly develops small- to medium-lift launch vehicles, lunar landers, and orbital vehicles for government and commercial customers. The information is based on a company press release.